Trusteeship - November/December 2021 - 34

FORUM
As far as interuniversity partnerships are
concerned, we are seeing more and more
joint research arrangements, joint degree
programs, and even an increase in full
mergers. There are revenue and expenses
synergies driving this activity. For example, a
group of private Catholic universities could
offer new online programs in different areas
and geographies under one joint advertising
campaign that leverages unique strengths
and unified branding. Public system
universities can work together to centralize
administrative functions such as IT and
HR and decrease decentralized redundant
expenses on local campuses.
From a global perspective, international
universities are looking to partner with
other universities, particularly U.S. institutions,
in many ways, including research
collaborations, study/teaching abroad, and
increasingly, joint program offerings. Look
for a future full of mega-universities (like
Arizona State University) and collaborations
that extend throughout the globe.
Profitability
As mentioned earlier, COVID-19 delivered
a dramatic blow to most institutions' financial
situations. Universities had to make
hard choices about expenses: academic and
in some cases, academic. According to my
research, 92 percent of university leaders
made " significant " or " some " cuts, although
many of them were temporary in nature.
It is time for universities to continue to
keep a close eye on expenses. For too many
years, many institutions incrementally
increased budgets every year, subsidizing it
with tuition increases, endowment returns,
and in some cases, enrollment increases.
Those days are over. The debt to students
is unsustainable and state governments
continue to keep their support at below
levels prior to the Great Recession.
Conclusion
In summary, this is truly a special time for
higher education. We are weathering a
tremendous storm but can learn from it.
To do so, we need to step back from the
day-to-day operations of our universities
and apply a strategy refresh given the postpandemic
environment in which we find
ourselves. Additionally, we should use a
long-term lens to identify where we want
our institutions to go and tighten up our
guidance and investment to enable campus
leaders to make that happen. The future of
our institutions depends on it.
Paul N. Friga, PhD, is a clinical
associate professor of strategy and
tntrepreneurship at the Kenan-Flagler
School of Business at the University
of North Carolina and a senior
consultant and practice area leader for AGB's
Strategic Transformation of Public Higher Education
Practice. Email: Paul_Friga@kenan-flagler.unc.edu.
Endnotes
1 https://www.chronicle.com/article/how-to-fight-covidsfinancial-crush?cid2=gen_login_refresh&cid=gen_
sign_in
2
https://www.acenet.edu/News-Room/Pages/
New-Pulse-Point-Survey-of-College-PresidentsShows-Increase-in-Mental-Health-Concerns-OngoingImpact-of-COVID-19.aspx
Statement
of Ownership
U.S. Postal Service Statement of Ownership, Management, and Circulation
1. Publication Title: Trusteeship. 2. Publication No.: 0525-130. 3. Date of Filing: 10/1/2021. 4. Issue frequency: Bimonthly. 5. No. of
issues published annually: six. 6. Annual subscription price: $100. 7. Complete mailing address of known office of publication: 1133
20th St. NW, #300, Washington, DC 20036. 8. Complete mailing address of headquarters or general business office of publisher:
same. 9. Full names and complete mailing address of publisher, editor, and managing editor: Publisher-Association of Governing
Boards of Universities and Colleges, same address. Editor-Elena Loveland, same address. 10. Owner, Association of Governing
Boards of Universities and Colleges, same address. 11. Known bondholders, mortgagees, and other security holders owning
or holding 1 percent or more of total amounts of bonds, mortgages, or other securities: none. 12. The purpose, function, and
nonprofit status of this organization and the exempt status for federal income tax purposes have not changed during the preceding
12 months. 13. Publication Title: Trusteeship. 14. Issue date for circulation data below: September/October 2021. 15. Extent and
nature of circulation: Average no. copies each issue during preceding 12 months. (No. copies of single issue published nearest to
filing date.) 15a. Total no. copies: 32,458 (32,300). 15b. Paid circulation: (1.) Paid outside-county subscriptions stated on Form
3541: 30,412 (32,104). (2.) Paid in-county subscriptions stated on Form 3541: 0 (0). (3.) Sales through dealers and carriers, street
vendors, counter sales, and other non-USPS paid distribution: 990 (906). (4.) Paid Distribution by other classes mailed through
the USPS: 0 (0). 15c.Total paid distribution: 31,402 (32,104). 15d. Free or Nominal Rate distribution by mail: (1.) Outside-county
as stated on Form 3541: 0 (0). (2.) In-county as stated on Form 3541: 0 (0). (3.) Other classes mailed through the USPS: 0 (0). (4.)
Free or Nominal Rate Distribution Outside the Mail 75 (75). 15e. Total Free or Nominal Rate Distribution: 75 (75). 15f. Total
distribution: 31,675 (32,300). 15g. Copies not Distributed: 198 (121). 15h. Total 31,675 (32,300). 15i. Percent Paid 99.76% (99.76%).
16. This statement of ownership will be printed in the November/December 2021 issue of this publication. 17. Signature and title
of editor, publisher, business manager, or owner: Elena Loveland, Editor-in-Chief, 10/1/2021.
34 TRUSTEESHIP NOV.DEC.2021

https://www.chronicle.com/article/how-to-fight-covids-financial-crush?cid2=gen_login_refresh&cid=gen_sign_in https://www.chronicle.com/article/how-to-fight-covids-financial-crush?cid2=gen_login_refresh&cid=gen_sign_in https://www.chronicle.com/article/how-to-fight-covids-financial-crush?cid2=gen_login_refresh&cid=gen_sign_in https://www.acenet.edu/News-Room/Pages/New-Pulse-Point-Survey-of-College-Presidents-Shows-Increase-in-Mental-Health-Concerns-Ongoing-Impact-of-COVID-19.aspx https://www.acenet.edu/News-Room/Pages/New-Pulse-Point-Survey-of-College-Presidents-Shows-Increase-in-Mental-Health-Concerns-Ongoing-Impact-of-COVID-19.aspx https://www.acenet.edu/News-Room/Pages/New-Pulse-Point-Survey-of-College-Presidents-Shows-Increase-in-Mental-Health-Concerns-Ongoing-Impact-of-COVID-19.aspx https://www.acenet.edu/News-Room/Pages/New-Pulse-Point-Survey-of-College-Presidents-Shows-Increase-in-Mental-Health-Concerns-Ongoing-Impact-of-COVID-19.aspx

Trusteeship - November/December 2021

Table of Contents for the Digital Edition of Trusteeship - November/December 2021